A man borrows Rs 8160 from a finance company and has to return it in two equal annual instalments. If the rate of interest charged is 12.5% per annum, compounded annually, find the instalment.
A man borrows Rs 8160 from a finance company and has to return it in two equal annual instalments. If the rate of interest charged is 12.5% per annum, compounded annually, find the instalment.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Need steps. Find 1 principal and 2nd peincipal
Transcribed Image Text:..A man borrows Rs 8160 from a finance company and
has to return it in two equal annual instalments. If the rate of
interest charged is 12.5% per annum, compounded annually, find
the instalment.
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